Funding for digital health companies nearly halved in the last year, hitting $4.6 billion over 499 deals compared with $8.3 billion over 429 deals in 2022. Deal values are down even more significantly from 2021, when there were 595 deals valued at $17.7 billion.
Over the last year, primary and general telehealth companies received the most funding at $838.9 million, followed by digital pharmacies and pharmacy partners at $717.1 million.
The most active venture capital investor in digital health was What If Ventures, which had seven deals primarily focused on mental health startups. Frist Cressy Ventures and Alumni Ventures both had five deals.
The largest digital health deal was $420.6 million invested in PharmEasy, which did not have a lead investor.
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